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Staples to speed up closure of 15 US stores

Published: Tue, September 25, 2012 @ 1:30 p.m.

FRAMINGHAM, Mass. (AP) — Staples is speeding up the closure of about 15 of its U.S. stores and plans to close 45 stores and some delivery businesses in Europe.

The office products company also says it will invest more in its online and mobile efforts and will expand the product assortment that it offers to its business customers.

Staples Inc. said today the moves and other actions are part of a strategic plan to better serve customers' needs and accelerate growth.

Staples is trying to adapt to the evolving needs of its customers. Last month the company reported that its second-quarter net income fell as sales of computers, software, and basic office supplies softened.

Computer sales have been pressured by the introduction to many offices of the computer tablet and other mobile devices. Traffic is also down at Staples' stores and Europe continues to be a weak spot.

The chain expects the U.S. store closings will result in a charge of about $35 million in the fourth quarter. For fiscal 2012, it anticipates about 30 U.S. store closings. Staples also expects 30 stores will be scaled down and stores being relocated.

In Europe, the store closures are expected to occur before the end of fiscal 2012. The company has also tapped John Wilson to serve as president of Staples Europe. Wilson succeeds Rob Vale, who is retiring.


1MzVirgoLuv(158 comments)posted 3 years, 9 months ago

Isn't this the same Staples everyone is bragging about Bain Capital saving? Well, looks like captain save'em didn't do a good job....just like the other companies they didn't save! And yeah, I already know what's coming....BRING IT ON!

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2redeye1(5615 comments)posted 3 years, 9 months ago

How many jobs has BO created? NONE! But there are people who think he has . All he has done is give more and more people WELFARE! But to him that's creating jobs. But the SPINMASTER BO will spin this to his liking.

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